Oarsman Capital Inc. Trims Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Oarsman Capital Inc. lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 13.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,904 shares of the company’s stock after selling 446 shares during the period. Oarsman Capital Inc.’s holdings in Palantir Technologies were worth $220,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $1,360,191,000. Charles Schwab Investment Management Inc. grew its stake in Palantir Technologies by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock valued at $986,431,000 after acquiring an additional 655,815 shares during the period. Bank of New York Mellon Corp increased its holdings in Palantir Technologies by 10.9% in the 4th quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock worth $971,367,000 after acquiring an additional 1,262,479 shares in the last quarter. Finally, Amundi raised its position in Palantir Technologies by 62.7% during the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after acquiring an additional 2,623,524 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PLTR shares. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Bank of America raised their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Daiwa America upgraded Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Finally, William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $75.19.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at $48,988. This represents a 99.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,993,175 shares of company stock valued at $253,549,610. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $74.01 on Friday. The stock’s 50-day simple moving average is $92.67 and its 200-day simple moving average is $70.93. The firm has a market capitalization of $173.58 billion, a PE ratio of 389.55, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.